IDEAS home Printed from https://ideas.repec.org/p/arx/papers/2202.13930.html
   My bibliography  Save this paper

Formalizing Oracle Trust Models for blockchain-based business applications. An example from the supply chain sector

Author

Listed:
  • Giulio Caldarelli

Abstract

Blockchain technology truly opened the gate to a wave of unparalleled innovations; however, despite the rapidly growing load of hype, the integration into the business, apart from a few applications, seems to be coming at a slower rate. One reason for that delay may be the need in the real-world applications for the so-called trust model. Trust models are rarely mentioned in blockchain application proposals despite their importance, which creates skepticism about their successful developments. To promote trust model implementation and help practitioners in its redaction, this article provides an outline of what a trust model is, why it is essential, and an example of how it is elaborated. The discussed example comes from a case study of a dairy company that implemented blockchain for the traceability of its products. Despite being tailored on a traceability project, the redaction and elements of the trust model, with few adjustments, could be easily readapted for other applications.

Suggested Citation

  • Giulio Caldarelli, 2022. "Formalizing Oracle Trust Models for blockchain-based business applications. An example from the supply chain sector," Papers 2202.13930, arXiv.org, revised Mar 2022.
    • Handle: RePEc:arx:papers:2202.13930
    as

    Download full text from publisher

    File URL: http://arxiv.org/pdf/2202.13930
    File Function: Latest version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Giulio Caldarelli & Cecilia Rossignoli & Alessandro Zardini, 2020. "Overcoming the Blockchain Oracle Problem in the Traceability of Non-Fungible Products," Sustainability, MDPI, vol. 12(6), pages 1-17, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Giulio Caldarelli, 2022. "Overview of Blockchain Oracle Research," Future Internet, MDPI, vol. 14(6), pages 1-38, June.
    2. Giulio Caldarelli, 2023. "Investigating Assumptions and Proposals for Blockchain Integration in the Circular Economy. A Delphi Study," Papers 2312.13774, arXiv.org, revised Jun 2024.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yi Wang & Yafei Yang & Zhaoxiang Qin & Yefei Yang & Jun Li, 2023. "A Literature Review on the Application of Digital Technology in Achieving Green Supply Chain Management," Sustainability, MDPI, vol. 15(11), pages 1-18, May.
    2. Prince Waqas Khan & Yung-Cheol Byun, 2021. "Blockchain-Based Peer-to-Peer Energy Trading and Charging Payment System for Electric Vehicles," Sustainability, MDPI, vol. 13(14), pages 1-16, July.
    3. Pattanayak, Sirsha & Ramkumar, M. & Goswami, Mohit & Rana, Nripendra P., 2024. "Blockchain technology and supply chain performance: The role of trust and relational capabilities," International Journal of Production Economics, Elsevier, vol. 271(C).
    4. Luona Song & Yiqing Luo & Zixi Chang & Chunhua Jin & Merveille Nicolas, 2022. "Blockchain Adoption in Agricultural Supply Chain for Better Sustainability: A Game Theory Perspective," Sustainability, MDPI, vol. 14(3), pages 1-21, January.
    5. Giulio Caldarelli, 2022. "Overview of Blockchain Oracle Research," Future Internet, MDPI, vol. 14(6), pages 1-38, June.
    6. Wong, Lai-Wan & Tan, Garry Wei-Han & Ooi, Keng-Boon & Chan, Hing Kai, 2024. "Blockchains for SMEs: A Fit-Viability perspective moderated by organizational innovation diffusion for supply chain performance," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 182(C).
    7. Massimiliano Giacalone & Vito Santarcangelo & Vincenzo Donvito & Oriana Schiavone & Emilio Massa, 2021. "Big data for corporate social responsibility: blockchain use in Gioia del Colle DOP," Quality & Quantity: International Journal of Methodology, Springer, vol. 55(6), pages 1945-1971, December.
    8. Abderahman Rejeb & Karim Rejeb & Steve Simske & Horst Treiblmaier, 2021. "Blockchain Technologies in Logistics and Supply Chain Management: A Bibliometric Review," Logistics, MDPI, vol. 5(4), pages 1-28, October.
    9. Ashish Dwivedi & Dindayal Agrawal & Sanjoy Kumar Paul & Saurabh Pratap, 2023. "Modeling the blockchain readiness challenges for product recovery system," Annals of Operations Research, Springer, vol. 327(1), pages 493-537, August.
    10. Kongmanas Yavaprabhas & Mehrdokht Pournader & Stefan Seuring, 2023. "Blockchain as the “trust-building machine” for supply chain management," Annals of Operations Research, Springer, vol. 327(1), pages 49-88, August.
    11. Giulio Caldarelli, 2020. "Exploiting Corporate Governance to Evaluate Blockchain Applications: A Comprehensive Framework," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(4), pages 166-183.
    12. Yue Wu & Junxiang Li & Jin Gao, 2021. "Real-Time Bidding Model of Cryptocurrency Energy Trading Platform," Energies, MDPI, vol. 14(21), pages 1-14, November.
    13. Vineet Paliwal & Shalini Chandra & Suneel Sharma, 2020. "Blockchain Technology for Sustainable Supply Chain Management: A Systematic Literature Review and a Classification Framework," Sustainability, MDPI, vol. 12(18), pages 1-39, September.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:arx:papers:2202.13930. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: arXiv administrators (email available below). General contact details of provider: http://arxiv.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.